The growth rate of the premium income of the life insurance business of the five major Chinese listed insurance companies in the first five months of this year continued to slow, compared to the previous months of this year.
China's banking and insurance sector will accelerate the development of green finance and provide comprehensive financial services to assist in the country's transition toward a greener and low-carbon economy, regulatory officials have said.
With the Chinese government's goal of developing green finance, the insurance industry has published details of how it has been helping in green development.
he cumulative premium income of China's five largest listed A-share insurance companies for the period from January to May 2021 reached CNY1.3tn ($202.5bn), which reflected flat performance compared to the corresponding five months of 2020. The growth rate for the first five months of this year was only 0.69%.
PCGI Intermediate Holdings, the parent company of FWD Group and FWD, has filed confidentially for a US initial public offering, moving ahead with preparations for a long-awaited listing, according to a report by Bloomberg.
The Orient group has a track record of consistently outperforming its peers in terms of underwriting and overall profitability, which has been largely free of material fluctuations despite severe competition and regulatory changes in the UAE market, notes AM Best.
The Insurance Council of Australia (ICA) yesterday said that the Queensland Government's Budget announcement of just A$10m ($7.7m) for household resilience and mitigation measures was a missed opportunity to better protect Queenslanders from extreme weather events.
South Korean insurers' credit quality is expected to improve in 2021, driven by a gradual recovery in earnings, partly on the back of rising interest rates, says Fitch Ratings.
Interest in captives has been stirring in the Gulf states, as is indicated in an uptick in feasibility studies in the region, according to AM Best.
Better pricing will continue to support the underwriting performance of Japanese non-life groups - MS&AD Insurance Group Holdings, Tokio Marine Holdings and SOMPO Holdings - in the financial year ending 31 March 2022 (FYE22), Fitch Ratings says. Non-life insurers are benefiting from higher rates in the mainstay automobile and fire business lines.